A young Canary Islander could only afford a home worth 140,000 euros, but in the Canary Islands, prices are already above 180,000 euros. In the Atlantic islands, this gap between the purchasing power of people under 34 and the ever-increasing price of free housing is more noticeable, making it the sixth most expensive autonomous community in the country. This is according to the Observatorio de Emancipación, with data from the second half of 2024, compiled by the Spanish Youth Council.
Added to this situation is the fact that young Canary Islanders must dedicate between 90% and 110% of their net salary to be able to rent a home. The reality in the Canary archipelago is only as bad as in the Balearic Islands. Closely followed by Catalonia and the Community of Madrid, and above the Spanish average.
This way, although experts point out that a person should only dedicate, at most, 30% of their salary to paying rent to be able to cover other expenses, this reality is not met for young people in any Spanish autonomous community.
Among the communities with the highest housing prices
The autonomous communities with the highest price for housing for sale are the Community of Madrid, the Balearic Islands, the Basque Country, Catalonia, and the autonomous cities of Ceuta and Melilla. In sixth place is the Canary Islands, with the highest housing prices.It should be noted that a young salaried Canary Islander must allocate between 110% and 150% of their minimum annual net income to be able to buy a house, around 24,000 to 36,000 euros. In this case, the **contradiction** arises that even dedicating their entire salary, this **would be insufficient** to acquire a house in the archipelago.
This situation is repeated in the five autonomous communities where the price of housing is among the highest in the country.
